Asklemmy

Fiat doesn’t work on a finite planet.

Citations needed.

Why would I assume the title is accurate? I've never heard this criticism of fiat currency before, since the whole point is that it doesn't rely on on scarcity but on the stability of the issuing body. Can you explain, or is that outside the scope of this thread?

what is a good way for the working class (90%+ of all humans) to save

Gonna sound like a dangerous lemmy communist, but vote for parties who want to raise wages and join Union to defend your rights. The main problem is that most working class struggle to finish the month without a negative bank account, once it's solved, saving become possible again

The objection about a "finite planet" is about capitalism, not currency. A 100% communist system can still have fiat currency and function perfectly well, the two aren't even related.

It's capitalism you don't like, not money.

The title isn't accurate, so I can't assume it is.

Fiat currency works precisely because the planet is finite. What you're thinking of is a currency that's tied to a finite resource, like a gold standard. Fiat currency works precisely because monetary supply is able to be increased to keep pace with both the population and economic growth. Likewise, fiat currency can be removed from the economy when the economy shrinks (although this hasn't happened before).

Fiat can work fine on a finite planet, most money doesn't even take up physical space anymore, just bits in an account ledger database. Ideally in the future governments will make sure their currency is backed or based on labor time, and nothing is technologically preventing that, nor is crypto-currency required for it.

Finding pockets of self sufficiency, or at least ways to prevent falling down to the bottom.

Universal basic income helps this by making sure everyone has at least enough to live on.

Homesteading and community gardens help this by making sure you at least have some basic amount of food available to you.

Building walkable cities helps.this by allowing you to avoid or reduce the expenses of a car.

Building resilient cities that leverage adaptive reuse help this by making it cheaper to start new small community businesses that keep money local.

The solutions aren't in the system of money we choose, it's in building small sustainable ways to provide for basic needs, even in a small way.

I can confirm, I've had two Fiats and neither worked properly

Eat the rich

Stockpile canned beans they will become the most valuable currency once the WW3 starts.

#NotAFinancialAdvice

The working class cannot win without overthrowing the owner class. The owner class is the ruling class and functions, under capitalism, to extract from the working class and make capital into more capital. It cannot escape this role so long as capitalism exists and the owner class is in charge. The fundamental mechanisms by which that system works is coercive on both classes. "Nice" members of the owner class are hammered into complacency through failure and exit (becoming working class again) or abandonment of their principals. Or they luck out and are minor and largely irrelevant, facing no competitors or predators. Real solutions require that we organize and spread class consciousness.

On an individual level, you can try to protect yourself from some of the most extreme economic violences, but they are inherently limited. Fiat currency only has value because the issuer is "good for it" and you can use it as capital and for personal purchases of commodities. Crypto is not money at all, it is an unlicensed security. If your interest is in money-like things, I would recommend inflation hedge-alikes gold and real estate. But these require you to already have significant savings. And they are something to hawk in order to leave the country and cannot replace a functional economic base or allow you to weather a true crisis staying in the country. Having a backup shelf-stable food supply and means to boil water is also a good idea.

Our fates are all tied together under this economic system. We will quickly starve and die of preventable disease in a real, sustained crisis, as it will disrupt agriculture and utilities. Only a stable productive base, a real economy that produces what humans need, can provide when borders close or trade halts. And, realistically, everything you can do as an inflation hedge is much better when done at the community level. Mutual aid is more effective than a personal bean stash (do both!). A network of like-minded people can secure travel and estimate when to leave vs. fight. You can buy real estate with less capital if you go in together. Etc etc.

Socialism. The problem here isn’t with currency, it’s with capitalism.

What makes you think that "crypto has failed on it's goals"?

https://www.gocomics.com/calvinandhobbes/1991/11/29

Realize that all forms of currency are ultimately a grift to allow a class of violent weirdos to claim ownership over the fruits of our labor and that we could actually just share things with each other without commerce

Barter. Learn a tradable skill. Build a group of friends.

But also save money.

Buy jewelry, gold and silver coins, gemstones, rolls of silk, fine pelts, expensive spices like vanilla beans (avoid saffron though, its perishable), fine porcelains and maybe a rare painting or two. Put it all in a big wooden chest with a big iron padlock on it, and bury it in your backyard. Then draw some sort of cryptic map to it in case you die unexpectedly, or forget where your backyard is or something.